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Bitcoin, Ethereum decline as China’s crypto crackdown continues The two major digital currencies suffered sharp falls on Sunday after a meeting of Chinas Financial Stability and Development Committee said the countrys finance sector should “crack down on Bitcoin mining and trading behaviour” Bitcoin and Ethereum were among the major cryptocurrencies suffering price declines over the weekend as fears over the ongoing crackdown on digital currencies in China continued to drive a downturn ...

Bitcoin recovery stalls as value dips back below US$40,000 In early deals in London, the digital currency was trading at around US$39,923, off its lows during Wednesdays selloff but still down over 12% for the week The recovery of Bitcoin following Wednesday’s meltdown of the crypto markets appeared to have stalled on Friday morning. In early deals in London, the digital currency was down 1.1% at US$39,923, giving it a market cap of US$747bn. While Bitcoin is still trading solidly above the w...

Bitcoin is still evolving into a store of value despite crypto market carnage Analysts at digital asset manager CoinShares have said it is "increasingly apparent" that Bitcoin is becoming increasingly financialised, which in turn indicates its "potential utility as a store of value" Bitcoin is steadily evolving into a store of value for investors despite concerns about its viability re-emerging in the wake of the recent crypto market crash, according to new research. In a new report, analysts ...

Bitcoin donations banned by Greenpeace amid environmental concerns The environmental charity said it will be suspending a facility allowing its supporters to donate using the cryptocurrency amid growing awareness of the amount of energy used in its mining process Environmental activist group Greenpeace has stopped accepting donations in Bitcoin amid growing concerns about the impact of mining the cryptocurrency on global carbon emissions. In FT report on Thursday, the group said it will be sc...

Bitcoin price will hit US$500,000, says Ark Investment’s Cathie Wood The fund manager and stock picker said the recent plunge in value meant now was "a very good time to buy” and that Bitcoin and other cryptos were currently “on-sale” The boss of Ark Investment Management Cathie Wood has reiterated a previous prediction that the price of Bitcoin will reach US$500,000 despite the digital currency’s recent plunge in value during Thursday’s carnage in the crypto markets. In a Bloomber...

Bitcoin bounces back as crypto market rallies The digital currency has surged nearly 21% in value in Thursdays session, with other high-profile cryptos such as Ethereum and Dogecoin following suit Bitcoin has staged a strong rebound on Thursday as the crypto market seemed to recover swiftly from yesterday’s bloodbath. In late afternoon trading in London, Bitcoin was up 20.8% over the last 24 hours at US$42,101, giving it a market cap of just under US$788bn. Meanwhile, Ethereum, the markets s...

Bitcoin plunges below US$40,000 as Chinese crackdown triggers fresh selloff The digital currency took another hit to its value early on Wednesday after the Peoples Bank of China said financial institutions and payment providers should not accept crypto or provide services related to digital currencies Bitcoin’s value fell below US$40,000 for the first time since early February as a selloff in cryptocurrency markets showed signs of accelerating. In early trading in London on Wednesday, Bitcoin...

Crypto carnage as quarter of market value wiped out: Bitcoin, Ethereum slump The market has lost around half a trillion dollars in the last 24 hours as panic selling saw sharp declines for major digital currencies including Bitcoin and Ethereum The crypto market is finding itself engulfed in a bloodbath on Wednesday as a sharp selloff saw around a quarter of its entire value wiped out over the last 24 hours. According to TradingView data, the crypto market’s total value stood at around US$1...

Coinbase results eyed amid crypto crash The crypto trading platform is due to report its first quarter numbers after the closing bell on Thursday in the wake of a sudden plunge in the prices of Bitcoin, Ethereum, Dogecoin and several other digital currencies A crash in the price of several cryptocurrencies earlier today is an unfortunate turn of events for digital currency exchange Coinbase Global Inc (NASDAQ:COIN) as it prepares to reports its first-quarter results after the closing bell, the ...

The two data centres have a combined power capacity of 20 megawatts and currently house a significant proportion of the companys cryptocurrency mining...